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Gadsden Growth Properties withdraws IPO

Gadsden Growth Properties Inc is seeking to withdraw the registration statement it filed with the Securities and Exchange Commission in connection with its planned initial public offering.

The real estate operating company cited lack of interest from investors as the reason for the withdrawal request, and said it is no longer able to purchase the properties identified in the registration statement.

The company had downsized its IPO in September 2017 to 3.5 million units from the initially planned 5 million units. It had planned to register as a real estate investment trust commencing with the taxable year ended Dec. 31, 2017.